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Glenn Hubbard: why do we need Social Security?

Boom, Bust, or What? Larry Summers and Glenn Hubbard Square Off on Our Economic Future. Planet Money's Adam Davidson profiles Glenn Hubbard (chair of the Council of Economic Advisors under George W. Bush, and advisor to Romney) and Lawrence Summers (Treasury Secretary under Clinton, and director of the National Economic Council under Obama). After talking to them one-on-one for several months, he gets them together in the same room.
Hubbard suggested turning Social Security and Medicare into smaller programs that help “the least well off among us.” With smaller social-insurance programs, the government can prevent tax increases and shrink the debt burden. That, he said, would lead to broad economic growth.
[more inside] posted by russilwvong on May 4, 2013 - 45 comments

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